Argentine Government Confirms Dollar Purchases Will Have 30 Percent Tax

RIO DE JANEIRO, BRAZIL – Until now, the government had announced that the surcharge would be 20 percent. “The tax to be charged on purchases abroad is 30 percent, not 20 percent. There is a logic of solidarity and contribution,” he said.

This includes the purchase of airfares in that currency and payment for services such as Netflix.

The official remarked that Argentines’ purchases abroad “are paid with dollars from the Central Bank” and said that “taking good care” of the reserves is essential.

In addition to protecting the Central Bank’s reserves, the Rosada House (office of the President) is trying to revitalize the local tourism industry, according to the coordinating minister.

“It is a very dynamic activity that currently generates seasonal employment, but employment is ultimately important. This way we favor local tourism,” he said.

Other measures

SMEs (Small and medium-sized enterprises): a moratorium will be established for small and medium-sized enterprises’ debts.

Double compensation: a public emergency for six months and double compensation for dismissal without just cause have been ordered.

Profits: there are no plans to change the income tax regime.

Withholding taxes: the amount of export taxes has been updated. Soybean remained at 30 percent.

Personal Goods: the rates will be changed, not affecting the minimum amounts from which they are paid.

Tariffs: a tariff freeze was ruled out to avoid impact on core investments.